bumt3300b_final_exam

bumt3300b_final_exam - 2009 FIDM/ Fashion Institute of...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
FINANCIAL ACCOUNTING II FINAL EXAM PROBLEMS (6 pts. each: 60 pts. Possible) Submit answers through the ‘assignments’ section (just like the homework assignments). Make sure all debits are listed first, left aligned, and all credit entries are below the debit entries, indented where journal entries are required. CH. 8: BANK RECONCILIATION 1. Using the following information, prepare a bank reconciliation for Cole Co. for May 31, 2009: (a) The bank statement balance is $2,936. (b) The cash account balance is $3,194. (c) Outstanding checks amounted to $465. (d) Deposits in transit are $655. (e) The bank service charge is $50. (f) A check for $97 for supplies was recorded as $79 in the ledger. CH. 9 ACCOUNTS RECEIVABLE 2. At the end of the current year, Accounts Receivable has a balance of $550,000; Allowance for Doubtful Accounts has a credit balance of $5,500; and net sales for the year total $2,500,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $25,000. Determine (a) the amount of the adjusting entry for uncollectible accounts; (b)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/13/2011 for the course ACCOUNTING 101 taught by Professor Staff during the Spring '08 term at UC Davis.

Page1 / 4

bumt3300b_final_exam - 2009 FIDM/ Fashion Institute of...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online